LAHORE: The Minister for Industries and Commerce in Punjab, Chaudhry Shafay Hussain, has announced a new business financing scheme under which interest-free loans of up to Rs.100 will be offered, while larger loans worth billions of rupees will be available at a low markup.
The announcement was made by the provincial minister during a meeting at the Punjab Small Industries Corporation (PSIC) House in Lahore with a high-level delegation from the Sargodha Chamber of Commerce and Industry.
The delegation, led by Sargodha Chamber President Khawaja Yasir Qayyum, discussed issues facing Sargodha’s industrial sector, particularly its Small Industrial Estate, as well as broader measures to support businesses.
Managing Director of the Punjab Small Industries Corporation (PSIC), Mubeen Elahi, and director PBI, Dr Imran Hashmi, also attended the meeting.
The president of the Sargodha Chamber of Commerce and Industry, Khawaja Qayyum, told the minister that around 100 industrial units are currently operating in the Sargodha Small Industrial Estate and called for improvements to the area’s industrial infrastructure.
In response, provincial minister Chaudhry Shafay Hussain has given assurance to the delegation that the Punjab government would launch a multi-billion-rupee program this year to upgrade infrastructure in 23 Small Industrial Estates across the province, including Sargodha.
He also announced that, in collaboration with the Bank of Punjab, the provincial government plans to launch a Rs.300 billion Easy Loan Scheme in October 2026.
Under the program, businesses will be eligible for interest-free loans of up to Rs.100 million, while larger loan facilities will be offered at highly concessional markup rates.
Chaudhry Shafay Hussain also pledged support for the business community, saying he would personally stand by industrialists and traders if they were subjected to unnecessary harassment by any public or private institution.
The Sargodha Chamber informed the minister that it plans to organize ‘Mango Festivals’ in Spain and South Africa next month to promote Pakistani mangoes in international markets.
The minister welcomed the initiative and assured the chamber of the provincial government’s full support for its export promotion efforts.